DSE cancels licence of SQ Brokerage amid failure to run business
An official at the DSE said the brokerage firm had taken registration but it failed to run its business within the mandated timeframe within six months.
The Dhaka Stock Exchange (DSE), premier bourse in the country, has cancelled trading right entitlement (Trec) licence of SQ Brokerage House Limited amid failure to run its business within timeframe.
In a disclosure, the DSE said SQ Brokerage failed to comply with sub-rules 7(1) of Trec rules 2020, which mandated to run business within six months after securing stock-dealer and stock-broker registration.
An official at the DSE said the brokerage firm had taken registration but it failed to run its business within the mandated timeframe within six months.
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As a result, the bourse cancelled the Trec licence of the brokerage firm.
"In this context, any person or entity having any claim, complaint or outstanding dues against the company in connection with the said Trec is hereby requested to submit a written application, along with all relevant supporting documents, to the following address on or before 3 January to the chief regulatory officer (Acting) of the DSE," a disclosure by the DSE said.
Previously, in October, the DSE had revoked the Trec of two brokerage firms – Mahid Securities Ltd and Al Haramain Securities Ltd – citing regulatory non-compliance.
Both brokerage firms had taken registration certificates but failed to commence their business under the rules.
